ONTO

Onto Innovation Inc.

Technology · $12.4B market cap

Verdict

Share price

$327.77

close of Oct 3, 2026

Fair value

$112.67

Sticker Price

Payback Price

$45.07

buy price

Overpriced

ONTO is Overpriced: at $327.77 it trades 191% above its fair value of $112.67. Its buy price (Payback Price) is $45.07, 86% below today's price. Business quality is strong: 4 of 5 key numbers clear the 10% bar.

How we valued it

Free Cash Flow. Sales grew 0% a year over the last 3 years, below the 15% we look for in a fast grower, so we value it on its free cash flow instead of an earnings forecast.

Business quality

4 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth12.5% a year✓
Equity per share growth10.5% a year✓
Sales growth11.0% a year✓
Free cash flow growth23.4% a year✓
Return on invested capital6.6%✗

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Superinvestors

2 of the investors we track hold ONTO. In Q2 2026, 1 opened a position and 1 added. Who we track

Moves in Q2 2026

New position: Lee Ainslie

Added: First Eagle Investment Management

Insider activity

Since Aug 21, 2026: no open-market purchases, 1 sale worth $302K and 2 other filings (stock awards, tax withholding and similar). Why purchases matter

Sales

Other filings

About Onto Innovation Inc.

Onto Innovation Inc. is a global leader in designing, manufacturing, and supporting cutting-edge process control solutions. The company's diverse portfolio encompasses tools for macro defect inspection, 2D/3D optical metrology, and lithography systems, alongside sophisticated analytical software for process control. These offerings are crucial for optimizing manufacturing processes, enhancing yield, and facilitating…

Semiconductors

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works